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Pre-Bankruptcy LBOs as Fraudulent Transfers

August 1, 2013, The Review of Banking & Financial Services

The article "Pre-Bankruptcy LBOs as Fraudulent Transfers" was authored by Trevor W. Swett, III, and Jeffrey A. Liesemer for The Review of Banking & Financial Services' August 2013 issue. The abstract below offers a brief description of the article.  To view the full article, please visit this link.

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Former shareholders in leveraged buyouts may be sued by the estate representative or by creditors to recover funds paid to them for their shares as fraudulent transfers under federal or state law if the debtor subsequently files for bankruptcy. The authors discuss the claims and defenses in such suits, focusing on two pending bankruptcy cases that raise, among other things, the scope of the "safe harbor" for payments made to complete a securities transaction or a securities contract. 

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